SpendLead Beta Launched – A New Way for Buyers and Suppliers To Find Each Other Effortlessly

We mentioned the "new improved" SpendLead product the other day. The platform, which has a very good social media type look and feel - helping to link up buyers and suppliers in a controlled and effective manner, so buyers can get marketing and related information from relevant suppliers and potential suppliers quickly and easily, and anonymously if they wish.

Why should procurement professionals be interested in using the platform? Well, if we go right back to basics, then finding and contracting with the best suppliers in a manner that generates competitive advantage is a pretty fundamental part of the procurement role. But how hard do many professionals really look for new and different suppliers? Unfortunately, many I've come across are happy to have an easy life, and simply stick with the current suppliers, or maybe occasionally bring in another market leader.

But that's not where the real advantage is going to lie in most cases, for most organisations and in most categories. It is the new, innovative, and different suppliers who are most likely to generate real benefits. Finding them however is not easy - its not something you can just Google!

There are also difficulties from the supply side in terms of providers trying to reach their market. For a start up firm, many conventional ways of reaching buyers are just too difficult or expensive. Taking a stand at a trade show or placing adverts in various forms of media is expensive for instance - and often unfocused.

So that highlights some of the key benefits that SpendLead will offer - for buyers, the ability to link up with interesting suppliers in your market, at zero cost, and for providers, the chance to get their information in front of relevant buyers at a very low cost.

Do take a look at the platform, and we would love you to sign up, tell your procurement colleagues about it, and then get your current suppliers to do the same. This will take a little while to build, of course. It is potentially a classic exponential growth model if it goes well - if each buyer invites ten suppliers ... and so on! We do hope you will agree with us that there is something worth developing here and be part of the journey ...

(Note - Jason Busch and Peter Smith of Spend Matters are (very) small shareholders in SpendLead - we bought our stake because we think it is a great idea!)

 

 

 

Voices (2)

  1. Dan:

    On the one hand, this looks interesting and could be very useful. On the other, Peter is an investor, which going on past experience means its probably doomed…

    1. Peter Smith:

      Thanks Dan! I would like to point out that as well as my well-publicised failures (Rok, Southern Cross …) I bought shares in Hargreaves Lansdown when they were issued – I had my personal pension with them and just thought their platform was brilliant (still do) and that’s worked out very well! Whitbread was another good one …
      Anyway, do hope you will give SpendLead a try, and do invite some suppliers too!

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